RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of February 3, 2014 No. 10

About approval of Rules of implementation of activities for management of investment portfolio

According to Item 1 of article 69 of the Law of the Republic of Kazakhstan "About the security market" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve Rules of implementation of activities for management of investment portfolio.

2. Recognize invalid regulatory legal acts of the Republic of Kazakhstan according to appendix to this resolution.

3. This resolution becomes effective after ten calendar days after day of its first official publication.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of February 3, 2014 No. 10

Rules of implementation of activities for management of investment portfolio

Chapter 1. General provisions

These rules of implementation of activities for management of investment portfolio (further - Rules) are developed according to item 4 of Article 892 of the Civil code of the Republic of Kazakhstan (Special part), the subitem 9) of article 15 of the Social code of the Republic of Kazakhstan, Item 1 of article 69 of the Law of the Republic of Kazakhstan "About the security market" (further - the Law on the security market), subitem 1-1) of Item 2 of article 11 of the Law of the Republic of Kazakhstan "About insurance activity", the subitem 11) of article 12 of the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations", Item 3 of article 37 of the Law of the Republic of Kazakhstan "About investment and venture funds" (further - the Law on investment funds), Item 1 and 3 of article 6-2 of the Law of the Republic of Kazakhstan "About project financing and securitization" (further - the Law on securitization), the subitem 1) of article 9 of the Law of the Republic of Kazakhstan "About funds of the target capital and endaument-funds (the target capitals)" (further - the Law on endaument-funds), conditions and procedure of activities for management of investment portfolio in the Republic of Kazakhstan establish.

Action of Rules extends on:

the organizations performing based on the license of authorized body activities for management of investment portfolio without the right of attraction of voluntary pension contributions;

the organizations performing based on the license of authorized body activities for management of investment portfolio with the right of attraction of voluntary pension contributions when implementing by them of activities for management of the investment portfolio built not due to attraction of voluntary pension contributions;

the insurance companies performing activities in industry "life insurance" and independent asset management, created at the expense of part of the insurance premiums (insurance premiums) got from insurers for the purposes of investment and income (losses) gained from their investment according to the insurance contracts providing condition of participation of the insurer in investments based on the license of authorized body for implementation of activities for management of investment portfolio in the security market (further - insurance companies).

Activities of the managing director of investment portfolio for asset management, created at the expense of part of the insurance premiums (insurance premiums) got from insurers for the purposes of investment, and income (losses) gained from their investment according to the insurance contracts providing condition of participation of the insurer in investments are performed taking into account the features established by regulatory legal act of authorized body according to Item 5 of article 12 of the Law of the Republic of Kazakhstan "About insurance activity" (further - Rules of participation of the insurer in investments).

1. In Rules the following concepts are used:

1) special finance company - the legal entity created according to the Law on securitization for implementation of transactions of project financing and securitization for benefit of which rights to claim are yielded;

2) exchange mutual investment fund (Exchange Traded Fund) (ETF) (Ekscheyndzh Treyded Fands) - interval mutual investment fund of index investment which shares address on the stock exchange;

3) the single accumulation pension fund - the legal entity performing activities for attraction of pension contributions and retirement benefits;

4) the investment declaration - the document determining the list of investment objects, the purposes, strategy, conditions and restrictions of investing activities on assets of investment fund or endaument-fund (the target capital), conditions of hedging and asset diversification;

5) investment portfolio - the set of different types of financial instruments or other property which is in property or management of the managing director of investment portfolio;

6) the managing director of investment portfolio - the professional participant of the security market performing on its own behalf in interests and for customer account activities for management of objects of the civil laws;

7) the agreement on management of investment portfolio - the agreement according to which the client gives to the managing director of investment portfolio property to investment management and the managing director of investment portfolio shall exercise control of this property for the benefit of the client;

8) system of accounting of the managing director of investment portfolio - set of the data containing on investment customer accounts of the managing director of investment portfolio which provide identification of the client and his assets, structure of investment portfolio and transactions with the client's assets on certain timepoint;

9) the investment decision - the decision on transaction with assets of investment fund or endaument-fund (target capital) accepted in process of management of its assets;

10) the client - person using or intended to use services of the managing director of investment portfolio, investment fund, fund of the target capital, the investment portfolio built at the expense of part of the insurance premiums (insurance premiums) got from insurers for the purposes of investment and income (losses) gained from their investment according to the insurance contracts providing condition of participation of the insurer in investments which assets are in management at the managing director of investment portfolio, and also the single accumulation pension fund concerning pension assets which are in trust management at the managing director of investment portfolio;

11) the client's assets - set of the assets which are in management at the managing director of investment portfolio;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info